Group 1 - Company SAILUN TIRE announced an investment of 5 million AUD (approximately 23.285 million RMB) in MTS Trust to acquire 11.09% of its shares, aiming to expand its business in Australia [1] - MTS Trust, established in March 2016, focuses on tire sales and related services, with total assets of 5.519 million AUD and equity of 1.128 million AUD as of May [1] - The investment will leverage MTS Holdings' established sales channels and market resources to enhance SAILUN's market penetration and brand influence in Australia [1] Group 2 - SAILUN TIRE is actively expanding its global footprint, with ongoing projects in Cambodia, Indonesia, and Mexico, including the recent launch of its first tire in Indonesia on May 28 [2] - The company aims to enhance its global production layout, increase R&D investment, and focus on digital transformation, brand building, and sustainable development to drive stable growth [2] - SAILUN has developed a comprehensive tire manufacturing technology system with independent intellectual property rights, enhancing its global R&D capabilities [2] Group 3 - Chinese tire companies, including SAILUN, are establishing manufacturing plants in North America, Europe, and South America to tap into core consumer markets [3] - Building factories in mature markets involves facing higher labor costs, stricter environmental regulations, and potentially higher energy and raw material costs [3] - Optimizing local operational efficiency and enhancing automation levels are critical for profitability in these regions [3]

来源 | 蓝鲸汽车 导语： 亿纬锂能董事长刘金成坦陈："想卷，但是没有资格。谁卷得到比亚迪，谁卷得到宁德时代，你怎么卷？" 以下文章来源于蓝鲸汽车 ，作者李卓玲 蓝鲸汽车 . 专注汽车行业报道。 作者 | 李卓玲 对于募集资金具体用途等，记者致电亿纬锂能投资者热线，其工作人员称，"以公告为准"； 对于目前海外有几个工厂，其称，目前已披露的包括匈牙利工厂、马来西亚工厂等， 具体以公告为准。 继宁德时代后，二线动力电池厂商亿纬锂能也筹划赴港二次上市。 6月9日晚间，亿纬锂能（300014.SZ）发布公告称，拟发行H股股票，并在港交所主板挂牌上市。 亿纬锂能去年境外收入同比下滑11.35% 据悉，其将充分考虑现有股东的利益和境内外资本市场的情况，在股东大会决议有效期内（即经公司股东大会审议通过之日起24个月或同意延长的其他期限）选择适当的时机和 发行窗口完成本次发行上市。 亿纬锂能方面称，"截至目前，公司正积极与相关中介机构就本次发行上市的相关工作进行商讨，除公司第六届董事会第五十三次会议审议通过的相关议案外，其他关于本次发行 上市的具体细节尚未确定。" 亿纬锂能成立于2001年，于2009年在深圳创业板首批上市。 ...

证券研究报告 | 浙商早知道 报告日期：2025 年 06 月 05 日 浙商早知道 2025 年 06 月 05 日 ： 张延兵 执业证书编号：S1230511010020 ： 021-80106048 ： zhangyanbing@stocke.com.cn 市场总览 重要点评 ❑ 大势：周三上证指数上涨 0.4%，沪深 300 上涨 0.4%，科创 50 上涨 0.5%，中证 1000 上涨 0.9%，创业板指上涨 1.1%，恒生指数上涨 0.6%。 ❑ 行业：周三表现最好的行业分别是美容护理（+2.6%)、综合（+2.5%)、纺织服饰（+2.4%)、通信（+1.8%)、轻工 制造（+1.6%)，表现最差的行业分别是交通运输（-0.6%)、国防军工（-0.2%)、公用事业（-0.1%)、银行 （+0.0%)、石油石化（+0.4%)。 ❑ 资金：周三沪深两市总成交额为 11530 亿元，南下资金净流入 35.2 亿港元。 ❑ 【浙商机械 邱世梁/王华君/何家恺】中力股份（603194）公司点评：拟建设泰国工厂推进全球化产能布局，智能 搬运机器人打开空间——20250603 ❑ 【浙商金属新材料 王南清/沈 ...

证券代码：300577 证券简称：开润股份 安徽开润股份有限公司 投资者关系活动记录表 编号：2025-003 2025 年第一季度，公司保持了良好的增长趋势，实现营业收入 12.34 亿元，同比增长 35.57%；归母净利润 0.85 亿元，同比增长 20.12%；扣 非归母净利润 0.83 亿元，同比增长 6.64%。 3、公司业绩实现高速增长的原因是什么？ 答：在代工制造端，公司近年来在全球各地的生产基地中持之以恒 地推进精益管理、数字化信息化以及 ESG 建设。在印尼、中国、印度等 地打造的全球化产能布局，公司充分发挥全球化布局优势和先进制造能 力，一方面巩固箱包品类的市场竞争力，另一方面积极拓展服装品类代 工业务，加速提升新老客户市场份额，同时优化生产经营效率，推动代 工制造业务实现较大突破，为公司收入和利润水平再创新高提供了有力 支撑。在品牌经营端，公司通过积极改革优化各渠道品牌策略及产品矩 阵，实现收入增长。 4、公司未来的发展战略是什么？ 答：公司代工制造业务将继续围绕优质客户战略，加速对关键客户 的拓展，抢占新老客户市场份额，加强对针织面料及服装新品类的探索 布局，不断为代工制造业务带来新的 ...

访问36氪出海网站letschuhai.com，获取更多全球商业相关资讯。 5月20日上午，宁德时代正式在香港联合交易所主板挂牌上市，首日涨超16%，总市值1.39万亿，成为今年截止目前的全球最大IPO。 这场提振港股市场的空前盛况，也将托举起宁德时代在欧洲的第二座工厂。据招股书，此次宁德时代港股上市募集资金净额的约90%将用于推进匈牙利项目 第一期及第二期建设。 近年来，中国动力电池企业加速海外布局，以应对全球新能源汽车需求增长和贸易壁垒挑战。 就动力电池工厂而言，最集中的落点在欧洲。 欧洲汽车制造商和政策法规正全面向电动化倾斜，动力电池作为核心部件，本地产能却远跟不上需求，给中国企业留下市场空间。但欧盟法规严苛，例如欧 盟《电池与废电池法规》（又称《新电池法》）对电池生产的碳足迹、供应链管理提出了多项细致的要求。 建设欧洲本地产能，成为中企规避贸易风险、深度融入全球产业竞争的必行之路。 盘点主要中国动力电池企业在欧洲建厂的进展，不难发现一些规律： | | | 中国: | | --- | --- | --- | | 电池企业 | 欧洲工厂选址 | | | 宁德时代 | 德国图林根州 匈牙利德布勒森市 | 2 ...

Core Viewpoint - The company demonstrates stable performance with ongoing high levels of production and sales, supported by the orderly advancement of new expansion projects in Vietnam, Cambodia, Mexico, and Indonesia, which is expected to lead to a continuous upward trend in performance over the medium to long term [1]. Financial Performance - The company maintains a "Buy" rating, with projected EPS of 1.45/1.59 for 2025/2026 and a new forecast of 1.76 for 2027, supported by clear overseas capacity increases [2]. - For 2024, the company expects revenue and net profit attributable to shareholders to reach 31.802 billion and 4.063 billion respectively, representing year-on-year increases of 22.42% and 31.42% [2]. - In Q4 2024, revenue and net profit attributable to shareholders are projected at 8.174 billion and 819 million respectively, with quarter-on-quarter declines of 3.54% and 25.00% [2]. - In Q1 2025, revenue and net profit attributable to shareholders are expected to be 8.411 billion and 1.039 billion respectively, showing year-on-year growth of 15.29% and 0.47%, and quarter-on-quarter increases of 2.90% and 26.79% [2]. Production and Sales - The company achieved a tire production volume of 74.8111 million units in 2024, a year-on-year increase of 27.59%, with sales volume reaching 72.1558 million units, up 29.34% year-on-year [2]. - In Q1 2025, the revenue from self-produced and self-sold tires is projected to be 8.09 billion, with production and sales volumes of 19.8833 million and 19.3739 million units respectively, reflecting a year-on-year sales volume increase of 16.84% [3]. Profitability Metrics - The company’s gross margin and net margin for 2024 are expected to be 27.58% and 12.97%, showing a slight year-on-year decrease of 0.06 percentage points and an increase of 0.64 percentage points respectively [3]. - In Q1 2025, the gross margin and net margin are projected to be 24.74% and 12.64%, reflecting year-on-year decreases of 2.94 percentage points and 1.75 percentage points, and a quarter-on-quarter decrease of 0.54 percentage points for gross margin but an increase of 2.55 percentage points for net margin [3]. Capacity Expansion - The company is accelerating its global capacity layout, with ongoing construction of production bases in Vietnam, Cambodia, Mexico, and Indonesia, aiming for a total planned production capacity of 27.65 million all-steel radial tires, 106 million semi-steel radial tires, and 447,000 tons of non-road tires by 2024 [4]. - The global capacity layout allows the company to shorten delivery cycles, serve existing customers more efficiently, expand overseas markets, and mitigate risks from trade frictions, supporting long-term stable development [4]. - The company has successfully developed a proprietary "liquid gold" tire that optimizes three key performance metrics: rolling resistance, wet grip, and wear resistance, enhancing product competitiveness [4].

5月7日，海信集团与美的集团发布公告，双方签订战略合作协议，将围绕AI应用、全球先进制造、智 慧物流等多领域开展全面战略合作。 南方财经全媒体记者 吴立洋 上海报道 从出席及签约的高管来看，除了两大家电集团一把手——海信集团董事长贾少谦、美的集团董事长兼总 裁方洪波均到场外，代表签约的高管分别为海信集团副总裁兼海信家电集团董事长高玉玲和美的集团副 总裁兼CFO钟铮，前者在升任海信家电董事长前也曾长期担任公司财务负责人，后者则主导了美的整合 渠道库存、优化供应链管理方面的DTC（直面消费者）改革——从签约人选中亦可一窥双方本次战略合 作的重点方向。 此外，官宣战略合作的公告中，双方还表示将开展广泛的数字化和AI应用平台的开发与合作；围绕绿 色工厂、工业互联网、全球产能布局等方面展开合作；在智慧物流领域，双方将在生产物流协同、智能 仓网体系构建等全链路进行平台优化与升级。 作为年收入分别超过4000亿元与2000亿元的超级巨头，美的与海信这样千亿营收体量的家电企业在集团 层面的战略合作，尚属中国市场首次。事实上，二者在冰洗空白电等业务中仍存在直接的市场竞争关 系，从公告内容来看，战略合作也集中于生产及供应体系。这 ...

编者按：美国滥施关税给全球贸易带来巨大冲击，作为中国第一经济大省、第一外贸大省的广东如何积极应对？ 即日起，南都、N视频推出"关税冲击下的广东突围"专题报道，深度走访记录广东各行各业充分研判、科学谋 划、主动调整，借助广交会等平台，于市场变局中开产业新局的探索实践。 不久前结束的第137届广交会上，多家广东陶瓷企业的展位人气火爆，海外订单源源不断。4月落幕的"佛山陶博 会"作为行业新动态的交流平台，向世界展示传统制造业如何通过技术迭代、市场多元、文化破圈等构建韧性。 同样在广交会上大放异彩的，还有广东四通集团股份有限公司（以下简称"四通集团"）。其陶瓷产品凭借独具特 色、个性鲜明的设计，吸引了众多海外客商的关注。 "我们带来了色釉手绘餐具、色釉窑变餐具等一百多个产品。"该公司行政部经理伍武告诉南都记者，这是四通集 团第40次参加广交会。本届展会上，公司接待了来自德国、日本、印尼、中东等多个国家和地区的客户，收获了 较为满意的成果。 在美国新一轮关税政策叠加原有反倾销冲击之下，我国陶瓷产业正经历一场深刻的转型升级。5月6日至7日，南 都、N视频记者对话多位广东陶瓷企业、行业协会负责人，听他们讲述如何探索发展新路 ...

Core Viewpoint - The company has shown significant growth in revenue and profit, indicating an improvement in its core business profitability, particularly in the consumer and power battery sectors [1][2]. Financial Performance - In 2024, the company achieved a revenue of 56.021 billion yuan, a year-on-year increase of 17.05%, with a net profit of 1.605 billion yuan, reflecting a substantial growth of 64.99% [1]. - For Q1 2025, the company reported a revenue of 12.289 billion yuan, up 11.97% year-on-year, and a net profit of 0.386 billion yuan, which is a 21.23% increase [1]. Product Segmentation - Consumer batteries remain the core business, generating 30.405 billion yuan in revenue (54.27% of total), with a growth of 6.52% in 2024 [2]. - Power battery revenue reached 15.139 billion yuan (27.02% of total), showing a significant growth of 40.24%, with a shipment volume of 25.29 GWh, an increase of 116.90% [2]. - Energy storage systems generated 1.889 billion yuan (3.37% of total) in revenue, with a shipment volume of 8.88 GWh, up 107% [2]. Profitability - The overall gross margin for the company in 2024 was 15.18%, an increase of 0.58 percentage points year-on-year, with consumer battery gross margin at 17.65%, up 2.74 percentage points [2]. - In Q1 2025, the gross margin further improved to 16.88%, a year-on-year increase of 0.92 percentage points [2]. Research and Development - The company invested 3.33 billion yuan in R&D in 2024, with Q1 2025 R&D expenses at 0.932 billion yuan, a 31.28% increase, focusing on advanced technologies like fast-charging and solid-state batteries [2]. Market Outlook - The global market for consumer electronics is recovering, with increasing demand for high-energy-density batteries driven by AI developments [3]. - The power and energy storage markets are expected to enter an upward cycle over the next three years, with the company achieving doubled sales in these segments in 2024 [3]. Supply Chain and Production Capacity - The company has been increasing its self-supply rate for consumer battery cells, aiming for over 40% in the future, and enhancing its global supply chain capabilities with new production bases in Vietnam [3]. - The profitability of power and energy storage products is expected to improve as production capacity utilization increases [3]. Investment Outlook - The company is projected to achieve net profits of 2.158 billion yuan, 2.815 billion yuan, and 3.753 billion yuan for the years 2025 to 2027, respectively, benefiting from the expansion of AI applications and significant profit elasticity in the power and energy storage sectors [4].

2025 年 05 月 02 日 公司研究 评级：买入(维持) | 研究所： | | | --- | --- | | 证券分析师： | 李航 S0350521120006 | | | lih11@ghzq.com.cn | | 证券分析师： | 邱迪 S0350522010002 | | | qiud@ghzq.com.cn | | 证券分析师： | 李昂 S0350525030002 | | | lia@ghzq.com.cn | [Table_Title] 全球化产能布局推进，数据中心业务构造新一轮 增长曲线 ——伊戈尔（002922）2025 年一季报公司点评 最近一年走势 | 相对沪深 | 300 | 表现 | | 2025/04/30 | | --- | --- | --- | --- | --- | | 表现 | | 1M | 3M | 12M | | 伊戈尔 | | -15.9% | -14.1% | -11.9% | | 沪深 300 | | -3.7% | -1.2% | 4.6% | | 市场数据 | 2025/04/30 | | --- | --- | | 当前价格（元） | 15.38 ...